Fourth-Quarter 2014 Earnings Bob Patel, Chief Executive Officer - PowerPoint PPT Presentation

Fourth-Quarter 2014 Earnings Bob Patel, Chief Executive Officer Karyn Ovelmen, Chief Financial Officer Sergey Vasnetsov, SVP – Strategic Planning and Transactions Doug Pike, VP – Investor Relations www.lyb.com

Cautionary Statement The statements in this presentation relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially based on factors including, but not limited to, the business cyclicality of the chemical, polymers and refining industries; the availability, cost and price volatility of raw materials and utilities, particularly the cost of oil, natural gas, and associated natural gas liquids; competitive product and pricing pressures; labor conditions; our ability to attract and retain key personnel; operating interruptions (including leaks, explosions, fires, weather-related incidents, mechanical failure, unscheduled downtime, supplier disruptions, labor shortages, strikes, work stoppages or other labor difficulties, transportation interruptions, spills and releases and other environmental risks); the supply/demand balances for our and our joint ventures’ products, and the related effects of industry production capacities and operating rates; our ability to achieve expected cost savings and other synergies; our ability to successfully execute projects and growth strategies; legal and environmental proceedings; tax rulings and changes in laws, regulations or treaties, consequences or proceedings; technological developments, and our ability to develop new products and process technologies; potential governmental regulatory actions; political unrest and terrorist acts; risks and uncertainties posed by international operations, including foreign currency fluctuations; and our ability to comply with debt covenants and service our debt. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2013, which can be found at www.lyondellbasell.com on the Investor Relations page and on the Securities and Exchange Commission’s website at www.sec.gov. The illustrative results or returns of growth projects are not in any way intended to be, nor should they be taken as, indicators or guarantees of performance. The assumptions on which they are based are not projections and do not necessarily represent the Company’s expectations and future performance. You should not rely on illustrated results or returns or these assumptions as being indicative of our future results or returns. This presentation contains time sensitive information that is accurate only as of the date hereof. Information contained in this presentation is unaudited and is subject to change. We undertake no obligation to update the information presented herein except as required by law. www.lyb.com 2

Information Related to Financial Measures This presentation makes reference to certain “non-GAAP” financial measures as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. The non-GAAP measures we have presented include income from continuing operations excluding LCM, diluted earnings per share excluding LCM, EBITDA and EBITDA excluding LCM. LCM stands for “lower of cost or market,” which is an accounting rule consistent with GAAP related to the valuation of inventory. Our inventories are stated at the lower of cost or market. Cost is determined using last-in, first-out (“LIFO”) inventory valuation methodology, which means that the most recently incurred costs are charged to cost of sales and inventories are valued at the earliest acquisition costs. Market is determined based on an assessment of the current estimated replacement cost and selling price of the inventory. In periods where the market price of our inventory declines substantially, cost values of inventory may be higher than the market value, which results in us writing down the value of inventory to market value in accordance the LCM rule, consistent with GAAP. We report our financial results in accordance with U.S. generally accepted accounting principles, but believe that certain non-GAAP financial measures, such as EBITDA and earnings and EBITDA excluding LCM, provide useful supplemental information to investors regarding the underlying business trends and performance of the company's ongoing operations and are useful for period-over-period comparisons of such operations. Non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the financial measures prepared in accordance with GAAP. EBITDA, as presented herein, may not be comparable to a similarly titled measure reported by other companies due to differences in the way the measure is calculated. We calculate EBITDA as income from continuing operations plus interest expense (net), provision for (benefit from) income taxes, and depreciation & amortization. EBITDA should not be considered an alternative to profit or operating profit for any period as an indicator of our performance, or as alternative to operating cash flows as a measure of our liquidity. We have also presented financial information herein exclusive of adjustments for LCM. While we also believe that free cash flow (FCF) and book capital are measures commonly used by investors, free cash flow and book capital, as presented herein, may not be comparable to similarly titled measures reported by other companies due to differences in the way the measures are calculated. For purposes of this presentation, free cash flow means net cash provided by operating activities minus capital expenditures and book capital means total debt plus stockholders’ equity plus minority interests. Reconciliations for our non-GAAP measures can be found on our website at www.lyb.com/investorrelations www.lyb.com 3

Highlights FY 2014 FY 2014 ($ in millions, except per share data) FY 2012 FY 2013 (As Reported) (ex. LCM) (1) EBITDA $5,808 $6,311 $7,050 $7,810 Income from Continuing Operations $2,858 $3,860 $4,172 $4,655 Diluted Earnings ($ / share) from Continuing Operations $4.96 $6.76 $8.00 $8.92 FY 2014 EPS Growth ~32% vs. 2013 and 80% vs. 2012 (2) FY 2014 EPS Growth ~32% vs. 2013 and 80% vs. 2012 (2) ($ in millions) EBITDA Income from Continuing Operations $2,500 $5,000 As Reported Excluding LCM As Reported Excluding LCM 2,000 4,000 1,500 3,000 1,000 2,000 500 1,000 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 2012 2013 2014 (1) LCM stands for “lower of cost or market.” An explanation of LCM and why we have excluded it from our financial information in this presentation can be found on the third page of this presentation under “Information Related to Financial Measures.” (2) Calculated using EBITDA results excluding the impact of the LCM adjustments www.lyb.com 4

LyondellBasell Safety Performance Safety - Injuries per 200,000 Hours Indexed Environmental Incidents Indexed Process Incidents Worked (1) 100% 100% 0.60 75% 75% 0.45 50% 50% 0.30 25% 25% 0.15 0% 0.00 0% 2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014 Continued Top Decile Safety Performance Continued Top Decile Safety Performance 1) Includes employees and contractors. www.lyb.com 5

2014 Accomplishments Financial Accomplishments Operating Accomplishments • Key Operating Rates: • Record earnings and cash flow • Completed 200 million pound per year PE expansion and 800 million pound per – U.S. Ethylene: 95% excluding La • Generated $6.0 billion cash from operations year ethylene expansion Porte turnaround • Repurchased more than 63 million shares for – EU Ethylene: 95% • First full year of Channelview methanol $5.8 billion and paid $1.4 billion in dividends plant operations – PO: 90% • Increased quarterly dividend from $0.60 per • Developing new propylene oxide and share to $0.70 per share – Refinery: 97% ethylene projects • Issued $1 billion 30 year bond at 4.875% • 53% of European ethylene produced from coupon advantaged feed • Initiated commercial paper program • Canadian crude sourcing was 10 - 15% of processed crude • Fixed costs managed flat since 2009 Record financial results • Continued to return cash to shareholders • Advanced growth projects Record financial results • Continued to return cash to shareholders • Advanced growth projects ($ in millions) As Reported Excluding LCM Segment EBITDA 2012 2013 2014 '13 - '14 Change 2014 '13 - '14 Change O&P Americas 2,968 3,573 3,911 338 4,190 617 O&P EAI 548 839 1,366 527 1,410 571 I&D 1,621 1,492 1,459 (33) 1,552 60 Refining 481 182 65 (117) 409 227 Technology 197 232 232 0 232 0 Total EBITDA 5,808 6,311 7,050 739 7,810 1,499 www.lyb.com 6

We are expanding our advantaged positions significantly U.S. Ethylene Propylene Oxide MM Lbs. 14,000 MM Lbs. 4,000 12,000 3,500 ~ 25% 3,000 10,000 ~ 35% 2,500 8,000 2,000 6,000 1,500 4,000 1,000 2,000 500 - - Before After Before After Methanol MTBE Equivalent MM Gal. Per Year MBPD 500 120 450 100 400 350 ~ 40% 80 300 250 60 ~ 130% 200 40 150 100 20 50 - - Before After Before After www.lyb.com 7